Stock Traders Buy High Volume of Verizon Communications Call Options (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ) was the target of some unusual options trading on Wednesday. Traders bought 150,820 call options on the company. This is an increase of approximately 103% compared to the typical volume of 74,253 call options.

Verizon Communications Stock Up 0.1 %

Shares of NYSE VZ opened at $42.94 on Friday. The company’s 50 day moving average price is $42.99 and its 200-day moving average price is $42.05. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications has a 52-week low of $37.59 and a 52-week high of $47.36. The company has a market capitalization of $180.78 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business posted $1.08 earnings per share. Equities analysts forecast that Verizon Communications will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.31%. Verizon Communications’s payout ratio is 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research reports. Oppenheimer lifted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Wolfe Research cut shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. UBS Group upped their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.85.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at $596,439.20. This represents a 43.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock valued at $2,020,895 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in Verizon Communications in the fourth quarter valued at $28,000. Mattson Financial Services LLC grew its stake in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 415 shares during the period. Legend Financial Advisors Inc. increased its position in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 320 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $32,000. Finally, Graney & King LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $32,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).